{"url_path":"/sec/xsll/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/2088807/0001213900-26-057947-index.html","accession_number":"0001213900-26-057947","cik":"0002088807","ticker":"XSLL","issuer_name":"Xsolla SPAC 1","edgar_url":"https://www.sec.gov/Archives/edgar/data/2088807/0001213900-26-057947-index.html","primary_entity_key":"0002088807","primary_entity_name":"Xsolla SPAC 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EXCHANGE COMMISSION\n\nWashington,\nD.C. 20549\n\n \n\nFORM 10-Q\n\n \n\n(MARK\nONE) \n\n☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the quarter ended March 31, 2026\n\n \n\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor\nthe transition period from                    to                       \n\n \n\nCommission file number: 001-43066\n\n \n\nXSOLLA SPAC 1\n\n(Exact\nName of Registrant as Specified in Its Charter) \n\n \n\nCayman Islands 001-43066 N/A\n\n(State\nor other jurisdiction\n\nof incorporation)\n \n(Commission\nFile Number)\n \n\n(I.R.S.\nEmployer\n\nIdentification\nNumber)\n\n \n\n15260 Ventura Boulevard, Suite 2230\nSherman Oaks, CA 91403\n\n(Address\nof Principal Executive Offices)\n \n(Zip\nCode)\n\n \n\nRegistrant’s telephone number, including area code: (877) 987-9233\n\n \n\nN/A\n\n(Former name or former address, if changed since last report)\n\n \n\nSecurities\nregistered pursuant to Section 12(b) of the Act:\n\n \n\nTitle\nof each class\n \nTrading\nSymbol(s)\n \nName\nof each exchange on which registered\n\nUnits, each consisting of one Class A ordinary share, par value $0.0001 per share, and one-half of one redeemable warrant XSLLU The Nasdaq Stock Market LLC\n\nClass A ordinary shares, par value $0.0001 per share XSLL The Nasdaq Stock Market LLC\n\nWarrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share XSLLW The Nasdaq Stock Market LLC\n\n \n\nCheck whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\n \n\nIndicate\nby check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller\nreporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge\naccelerated filer\n☐\n \nAccelerated\nfiler\n☐\n\nNon-accelerated filer☒ Smaller reporting company☒\n\n  Emerging growth company☒\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒  No ☐\n\n \n\nAs of May 15, 2026, there were 20,873,579 Class A ordinary shares, $0.0001 par value and 6,806,462 Class B ordinary shares, $0.0001 par value, issued and outstanding.  \n\n \n\n \n\n \n\n \n\n \n\nXSOLLA\nSPAC 1\n\n \n\nFORM\n10-Q FOR THE QUARTER ENDED MARCH 31, 2026\n\n \n\nTABLE\nOF CONTENTS\n\n \n\n \n \nPage\n\n[Part I. Financial Information](#a_001)\n \n \n\n[Item 1. Financial Statements](#a_002)\n \n \n\n[Balance Sheets as of March 31, 2026 and December 31, 2025 (Unaudited)](#a_003)\n \n1\n\n[Statement of Operations for the Three Months Ended March 31, 2026 (Unaudited)](#a_004)\n \n2\n\n[Statement of Changes in Shareholders’ Equity (Deficit) for the Three Months Ended March 31, 2026 (Unaudited)](#a_005)\n \n3\n\n[Statement of Cash Flows for the Three Months Ended March 31, 2026 (Unaudited)](#a_006)\n \n4\n\n[Notes to Financial Statements (Unaudited)](#a_007)\n \n5\n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#a_008)\n \n21\n\n[Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk](#a_009)\n \n23\n\n[Item 4. Controls and Procedures](#a_010)\n \n23\n\n[Part II. Other Information](#a_011)\n \n \n\n[Item 1. Legal Proceedings](#a_012)\n \n24\n\n[Item 1A. Risk Factors](#a_013)\n \n24\n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#a_014)\n \n24\n\n[Item 3. Defaults Upon Senior Securities](#a_015)\n \n24\n\n[Item 4. Mine Safety Disclosures](#a_016)\n \n24\n\n[Item 5. Other Information](#a_017)\n \n24\n\n[Item 6. Exhibits](#a_018)\n \n25\n\n[Part III. Signatures](#a_019)\n \n26\n\n \n\ni\n\n \n\n \n\nPART\nI - FINANCIAL INFORMATION"}